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How strongly are business cycles and financial cycles linked in the G7 countries?
Antonakakis, Nikolaos; Breitenlechner, Max; Scharler, Johann - 2014
for the G7 countries we find that: i) spillovers between credit growth and GDP growth evolve rather heterogeneously over … time and across countries, and increase during extreme economic events. ii) Spillovers between credit growth and GDP growth … shorty before and on the onset of the global financial crisis, the link between credit growth and GDP growth becomes more …
Persistent link: https://www.econbiz.de/10010253456
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How Strongly are Business Cycles and Financial Cycles Linked in the G7 Countries?
Antonakakis, Nikolaos; Breitenlechner, Max; Scharler, Johann - Institut für Finanzwissenschaft, Fakultät für … - 2014
for the G7 countries we find that: i) spillovers between credit growth and GDP growth evolve rather heterogeneously over … time and across countries, and increase during extreme economic events. ii) Spillovers between credit growth and GDP growth … shorty before and on the onset of the global financial crisis, the link between credit growth and GDP growth becomes more …
Persistent link: https://www.econbiz.de/10010839598
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Financial cycles in Europe : dynamics, synchronicity and implications for business cycles and macroeconomic imbalances
Adarov, Amat - 2019
Using dynamic factor models and state-space techniques we quantify financial cycles for twenty European countries over the period 1960Q1–2015Q4 capturing imbalances across credit, housing, bond and equity markets. The paper documents the existence of slow-moving and persistent financial cycles...
Persistent link: https://www.econbiz.de/10012153925
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The impact of credit supply shocks in the euro area : market-based financing versus loans
Barauskaite, Kristina; Nguyen, Anh D. M.; Rousová, Linda; … - 2022
Using a novel quarterly dataset on debt financing of non-financial corporations, this paper provides the first empirical evaluation of the relative importance of loan and market-based finance (MBF) supply shocks on business cycles in the euro area as a whole and in its five largest countries. In...
Persistent link: https://www.econbiz.de/10013265943
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Recessions and Financial Disruptions in Emerging Markets : A Bird's Eye View
Claessens, Stijn - 2010
This paper provides an overview of the implications of recession and financial disruption episodes in emerging markets …
Persistent link: https://www.econbiz.de/10013141025
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FINANCIAL CYCLES – THE SYNCHRONIZATION WITH FINANCIAL CRISES
DONATH, Liliana; CERNA, Veronica MIHUȚESCU; OPREA, … - In: Management Intercultural (2014) 31, pp. 263-273
2008–09 global crisis is the latest in a long list of economic events shaped by cycles in financial markets. Its severity …
Persistent link: https://www.econbiz.de/10011079428
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The impact of credit supply shocks in the euro area: Market-based financing versus loans
Barauskaite, Kristina; Nguyen, Anh D. M.; Rousová, Linda; … - 2022
Using a novel quarterly dataset on debt financing of non-financial corporations, this paper provides the first empirical evaluation of the relative importance of loan and market-based finance (MBF) supply shocks on business cycles in the euro area as a whole and in its five largest countries. In...
Persistent link: https://www.econbiz.de/10013368003
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The credit composition of global liquidity
Herwartz, Helmut; Ochsner, Christian; Rohloff, Hannes - 2021
We conceptualize global liquidity as global monetary policy and credit components by means of a large-scale dynamic factor model. Going beyond previous work, we decompose aggregate credit components into credit supply and demand flows directed at businesses, households and governments. We show...
Persistent link: https://www.econbiz.de/10012543579
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The credit composition of global liquidity
Herwartz, Helmut; Ochsner, Christian; Rohloff, Hannes - 2020
We conceptualize global liquidity as global monetary policy and credit components by means of a large-scale dynamic factor model in the spirit of Eickmeier,Gambacorta, and Hofmann (2014). Going beyond previous work, we decompose aggregate credit components into credit supply and demand flows...
Persistent link: https://www.econbiz.de/10012318308
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Financial cycles across G7 economies : a view from wavelet analysis
Mandler, Martin; Scharnagl, Michael - 2019
We analyse the cross-country dimension of financial cycles by studying cyclical co-movements in credit, house prices, equity prices and interest rates across the G7 economies. We use wavelet-based statistics to assess at which frequencies cyclical fluctuations and their crosscountry co-movements...
Persistent link: https://www.econbiz.de/10012020175